Stock Market Today: All You Need To Know Going Into Trade On March 14
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian markets extended declines on Tuesday while bonds rallied in early trading as the collapse of Silicon Valley Bank continued to reverberate across global markets.
The S&P 500 closed down 0.2% on Monday, after bouncing between gains and losses amid a rout in bank shares while the policy-sensitive Nasdaq climbed 0.8%, the most in over a week. The fallout from SVB’s collapse prompted President Joe Biden to promise stronger regulation of U.S. lenders, while reassuring depositors that their money is safe.
Meanwhile, the yield on 10-year Treasuries declined to 3.55%. Crude prices were trading around $80-mark, while Bitcoin was trading around 24,000-level.
At 5:47 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.02% at 17,176.
Both Indian benchmark indices—Sensex and Nifty—closed around 1.5% lower as banking, telecom, and automobile stocks led the decline.
The Indian rupee closed lower against the U.S. dollar for the second day in a row on account of weak show from domestic equities and substantial forex outflow.
Overseas investors in Indian equities remained net sellers for the Third day in a row on Monday. Foreign portfolio investors offloaded equities worth Rs 1,546.86 crore, while the domestic institutional investors were net buyers for the third day in a row and mopped up stocks worth Rs 1,418.58 crore.
Stocks To Watch
Lupin: The U.S. FDA completed its inspection of the company’s bioresearch centre in Pune. The inspection was closed without any observations.
Tata Chemicals: Fitch Ratings revised its outlook on the company’s long-term foreign-currency issuer default rating to positive from stable, and affirmed the rating at 'BB+'.
Sun TV Network: The company declared an interim dividend of Rs 2.5 per share of face value Rs 5 for the financial year ending March 2023.
GAIL (India): The company declared an interim dividend of Rs 4 per share for the current fiscal. The record date for the dividend has been fixed on March 21, 2023.
National Aluminium Co.: The company approved a second interim dividend of Rs 2.5 per share for each share of face value Rs 5. The record date for the dividend is March 21, 2023, it will be paid to the shareholders on or before March 31, 2023.
Krsnaa Diagnostics: The company operationalised 100 more pathology collection centres in Mumbai for BMC dispensaries and hospitals under the ‘Hinduhridaysamrat Balasaheb Thakeray Chikitsa’ project.
CreditAccess Grameen: The NBFC saw the assets under its management cross Rs 20,000 crore, compared to Rs 17,786 crore as on Dec. 31, 2022.
Tube Investments of India: The company signed a deal with N Govindarajan to incorporate a subsidiary to foray into the contract development and manufacturing operations business. The company will invest Rs 285 crore and Govindarajan will invest Rs 15 crore in the form of equity and compulsorily convertible preference shares.
Surya Roshni: The company has received an order of Rs 96.39 crore from Hindustan Petroleum Corporation for supply 3LPE coated steel pipes in Rajasthan, Bihar, Jharkhand and West Bengal.
Axita Cotton: The company received an order worth $2.72 million (approx. Rs 22.48 crore) from Bangladesh-based Taraspinning Mills and Khadiza Sadek Spinning Mills for supply of Indian raw cotton by April 30, 2023.
NMDC: Additional charge of chairman and managing director of the company has been given to Director (Finance) Amitava Mukherjee for a period of three months till May 31, 2023 as Sumit Deb was relieved from the post.
Mahindra CIE Automotive: Mahindra & Mahindra sold 2.3 crore shares (6.06%) at Rs 357.39 apiece, Societe Generale bought 64.53 lakh shares (1.7%) at Rs 357 apiece.
Mahindra Logistics: First Sentier Investors ICVC-Stewart Investors Asia Pacific Sustainability Fund sold 6.04 lakh shares (0.84%) at Rs 366.11 apiece and 6.47 lakh shares (0.9%) at Rs 366.23 apiece.
Sona BLW Precision Forgings: HDFC Mutual Fund bought 36.59 lakh shares (0.63%), ICICI Prudential Life Insurance Company bought 40.24 lakh shares (0.69%), Societe Generale bought 90.29 lakh shares (1.54%), BNP Paribas Arbitrage bought 72.55 lakh shares (1.24%), Fidelity Investment Trust Fidelity Series Emerging Markets Fund bought 39.66 lakh shares (0.68%), Fidelity Asian Values bought 74.06 lakh shares (1.27%), Government of Singapore bought 2.42 crore shares (4.14%), Monetary Authority of Singapore bought 57.86 lakh shares (0.99%) at Rs 410 apiece, Singapore VII Topco III sold 11.99 crore shares at Rs 410.04 apiece.
Offerings: Divgi TorqTransfer Systems Listing
Divgi TorqTransfer Systems: The auto component maker will list its shares on the exchanges on March 14. The Rs 412-crore IPO was subscribed 5.44 times during its course from March 1 to 3, with institutional buyers leading demand. The QIB portion was subscribed 7.83 times, and the HNI portion was subscribed 1.4 times. The retail portion was subscribed 4.31 times.
Who’s Meeting Whom
Home First Finance Company India: To meet investors and analysts on March 17.
Heritage Foods: To meet investors and analysts on March 14.
Kotak Mahindra Bank: To meet investors and analysts on March 16.
Aptus Value Housing Finance India: To meet investors and analysts on March 14.
KEC International: To meet investors and analysts on March 15.
Bank of Maharashtra: To meet investors and analysts on March 15.
Nazara Technologies: To meet investors and analysts between March 17-20.
Indian Energy Exchange: To meet investors and analysts on March 14.
Krsnaa Diagnostics: To meet investors and analysts on March 14.
ADF Foods: To meet investors and analysts between March 16-17.
Meghmani Finechem: To meet investors and analysts on March 14.
Adani Green Energy: To meet investors and analysts on March 14.
Kalyan Jewellers India: To meet investors and analysts on March 14.
Go Fashion (India): To meet investors and analysts on March 14.
Mahanagar Gas: To meet investors and analysts on March 14.
Ex-Date Bonus issue: Astral
Record Date Bonus issue: Astral
Price Band Revised From 20% To 10%: GRM Overseas
Move Into Short-Term ASM Framework: Seamec
Maharashtra Seamless: Promoter Sanket Jindal bought 9,550 shares on March 10.
Sunteck Realty: Promoter Matrabhav Trust bought 17,805 shares on March 9.
ADF Foods: Promoter Mahalaxmi Ramesh Thakkar sold 20,000 shares on March 10.
Gokaldas Exports: Promoter Clear Wealth Consultancy Services sold 60 lakh shares on March 9.
KPIT Technologies: Promoter Hemlata Shende sold 9,000 shares between March 9-10.
Pledge Share Details
Mangalore Chemicals & Fertilisers: Promoter Zuari Agro Chemical released a pledge of 28 lakh shares on March 9.
Emami: Promoter group Suraj Finvest created a pledge of one lakh shares and released a pledge of 14 lakh shares and promoter group Diwaker Finvest created a pledge of 13 lakh shares between March 9-10.
Nifty March futures ended at 17,220 a discount of 232.55 points.
Nifty March futures rose 0.63% and 1,462 shares in Open Interest.
Nifty Bank March futures ended at 39,775 a discount of 839.50 points.
Nifty Bank March futures rose 13.22% and 12,262 shares in Open Interest.
Securities added to the ban period: Gujarat Narmada Valley Fertilizers and Chemicals
Securities removed from the ban period: Balrampur Chini Mills
Money Market Update
Rupee closed 0.09% lower against the U.S. dollar at 82.13 on Monday, compared to Friday's close of 82.05.
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